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FOR PE-2 STUDENTS WHO HAVE PASSED 1 GROUP

Stu (student) (295 Points)

06 September 2009

As you know, this June' s Pe-2 results have been horrible. I have cleared group two of PE-2 in 2008, and I wanted to know what I can do to start articleship. The latest IPCC notification says we can enroll now and appear in 2009 Nov. , but what type of exemption will i get?? Because in IPCC there are 4 papers in group 2! Tax I have already cleared in PE-2 , will I have to do all these again? Will exemption be group wise or paper wise?

And what about articleship? In IPCC, those who pass group 1 will start articleship after results are declared. But for the PE-2 group 2 pass students, can we start articleship on the basis of group two passing?

And will we be allowed to switch even if we have exhausted 5 attempts? Please help me out, as the date for taking a decision is very close. Thank you very much.

Stuti S

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41 Replies

sumit (accountant) (24 Points)
Replied 06 September 2009

yaar i hav cleared only 2nd group in pe-2..what shall i do .. plz guide i dnt want to continue pe-2.. i want to change it to ipcc .. can i gve exams in nov 2009 ..or if i gve exams in may 2010,,,.. shud i start training ..or articleship .. plz guide me at d earliest .. waitin fr fav response..n in group 1 wich papers i hav to gve n of wich subject ..

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BALASUBRAMANYA B N (CCI STUDENT....) (44679 Points)
Replied 06 September 2009

All students who have been registered for the erstwhile Intermediate under paragraph 2 or 2 A of schedule B to the Chartered Accountants Regulations 28 or who have been registered for the erstwhile Professional Education (Course-II) or who have been registered for the Professional Competence Course (PCC) are eligible for conversion to IPCC by paying the prescribed conversion fee along with the conversion application form obtained along with IPCC prospectus or down loaded from https://www.icai.org/resource_file/14262ipcc_re_regform.pdf - IPCC Re-Registration Form to be submitted to the concerned Regional Office on or before September 14, 2009 for becoming eligible to appear in the November, 2009 examination. Examination applications together with the prescribed fee by Demand Draft of any Scheduled Bank may be sent so as to reach the Additional Secretary (Examinations) at New Delhi not later than 7th September, 2009. However, applications will also be received direct by Delhi Office after 7th September, 2009 and upto 14th September, 2009 with late fee of Rs. 500/-. Applications received after 14th September, 2009 shall not be entertained under any circumstances.

(i) Relaxation of Nine months study course period to appear in the November, 2009 IPCC examination

Students who have mean while converted from erstwhile Intermediate/ Professional Education (Course – II)/ Professional Competence Course to Integrated Professional Competence Course (IPCC) and have completed minimum period of nine months from the date of registration in Intermediate/ Professional Education (Course – II) or completed nine months after joining the Professional Competence Course are permitted to appear in the Integrated Professional Competence Examination to be held in November, 2009.

BALASUBRAMANYA B N (CCI STUDENT....) (44679 Points)
Replied 06 September 2009

In grpup 2 only 3 papers r there...

(Guest)

ca ka gum hai, hazaroon ki khawish hai, institute ke pass result ka halfnama hai, zindagi barang hai!! bazu wala fail ho ke bi pass hai, yeah institute ki kartoot hai , uzardata sapno ka khawab hai!!

K.G.BHARATHI (articleship) (26 Points)
Replied 06 September 2009

i am PE 2 student , before annoucement for conversion(04-09-2009) i sent application for PE 2 nov09 exam . i would like convert PE 2 TO IPCC.Is it possible?

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Animish (Final CA) (96 Points)
Replied 06 September 2009

same problemas Bharathi above?

as for stu u will get exemption in tax costing and it papers in gr1 and 2 respectively

for eg if u have passed grp 1 or have exemption in accounts then exemption will be in acc in grp 1 and acc in grp 2 as well

@ bala they can convert to ipcc right noww as per notificaion by icai https://www.icai.org/post.html?post_id=4942&c_id=219

Stu (student) (295 Points)
Replied 06 September 2009

Animish, in that case can i start articleship immediately, on account of having cleared one group of PE-2? Because the group is not connected to 1st group of IPCC...IPCC students have to clear the first group, with 4 papers, to start articleship. And this is also valid if you have exhausted 5 PE-2 attempts? And now i will have to give 4 papers, accounts twice? :(

Animish (Final CA) (96 Points)
Replied 06 September 2009

you can convert even if u have exhausted ur 5 attempts but since u have not cleared accounts and law u cant start your article ship but if u clear the same during nov ipcc attempt you can start,

dont confuse the pe2/pcc groups with ipcc, ipcc has mixed the subs in grp 1 . remember its easy to clear in accounts in grp 1 in ipcc since the portion is quite easy something u should look for.

Animish (Final CA) (96 Points)
Replied 06 September 2009

also the tough accounts is in grp 2 which u can clear later even in next attempt but you can start your articleship only after passing grp1 .

Stu (student) (295 Points)
Replied 06 September 2009

Animesh, thanks a lot for clarifying that doubt. One of my friends had told me as long as you have passed one group of PE-2, you can start articleship under new scheme, so I was confused. So you are saying if I switch , I have to appear for only the Group I wala 'accounting', and not the 'advanced accounting'? Total same 3 papers which i have pending? Hmm..I had my exam form ready for submission tomorrow, then I saw this announcement on Friday night. Frankly now I dont know if it's worth converting, as anyway I am not able to start articleship immediately. I wanted to atleast be working valid articles while waiting for IPCC results for 3 mnths :(

Anyway, hope we take the right decision whether it is smart to switch at this point. You cannot be sure that the new IPCC course results also will not have very very low %. And PE-2 is anyway very poor. Tough decision.

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Stu (student) (295 Points)
Replied 06 September 2009

If you are saying that I have to appear for Advanced accounting also, then there's no way I'm switching! I have really struggled with this stupid accounts subject..I dont want to appear for it twice. I think I can work hard and try for PE-2 only :(

Animish (Final CA) (96 Points)
Replied 06 September 2009

since u have only to clear grp1 for starting the articleship it would be wiser to give to give grp1 wala accounts. just look at the topics the have in grp1 wala accounts passing wil not be tough for you. remember we study both easy as well as tough accounts simaltaneously for pe 2 as well as the institute aslo changes paper pattern from 16 marks sums to 8 marks sums, so passing in accounts in pe 2 is difficult than in ipcc thats what i feel

Animish (Final CA) (96 Points)
Replied 06 September 2009

but yes advanced accounting you will have to give later on since without passing that and audit u cant proceed to ca final

Stu (student) (295 Points)
Replied 06 September 2009

If you pass PE-2 in Nov 09 or pass IPCC one group in Nov 2009, either way articleship will start on the same date. In that case, you final attempt would be due earlier, under PE-2 scheme, as it is due in May 2012. But under IPCC, since it says 'during final 6 mnths' then you will be due only in Nov 2012. Hence, the only advantage for switching is that you will be out of this dangerous PE-2 course which has such low pass percentage. But even that you cannot be sure of IPCC, as you can see from the almost zero % pass rate of Final (NEW) course students in June. But I would recommend that those who have both grps of Pe-2 pending should switch.